Carlsberg Tightens Grip on Chongqing’s Breweries in Chinese Move

Carlsberg A/S, the world’s fourth-biggest brewer, said Chongqing Beer Group Co. accepted its 1.56 billion-yuan ($257 million) offer for eight Chinese breweries as the Danish beermaker steps up expansion in Asia.

Carlsberg will buy 100 percent of Chongqing Beer Group Assets Management Co., a Chongqing, China-based holding company, according to a statement yesterday. The holding company owns breweries in the Jiangsu, Anhui and Zhejiang provinces, with capacity of about 12 million hectoliters.